The United States has allocated nearly $900 million from its International Monetary Fund (IMF) reserves to help Argentina repay a debt owed to the organization that the Latin American country did not have sufficient funds to repay, the Financial Times (FT) reported.
The US withdrew the funds after Argentina's Central Bank and the US Treasury Department signed a $20 billion currency swap agreement aimed at supporting the Latin American country's economy.
As the FT notes, the agreement itself has raised a wave of criticism from US business circles. In particular, American agricultural producers express dissatisfaction because Argentina is their direct competitor in supplying a wide variety of crops to international markets.
